Families in New York come from every corner of the world. Many households include one spouse who is a U.S. citizen and one who is not. This dynamic can create unique challenges when preparing an estate plan. Federal tax rules treat non-citizen spouses differently, and those rules influence how property should be transferred, how assets are titled, and how long-term security is structured. Without proper planning, a surviving spouse may ... [Read More]

Many families spend a great deal of time creating wills, trusts, and other legal documents. These are essential parts of any estate plan. Yet legal tools alone do not always prevent conflict or confusion. Families often struggle with misunderstandings about values, expectations, and long-term priorities. That is where a family governance charter, sometimes called a family constitution, can support a more stable and predictable future. While not a binding legal ... [Read More]

Estate planning becomes more complicated when someone owns financial accounts, investments, or real property outside the United States. These assets are often subject to foreign laws, tax rules, and reporting obligations that do not align with U.S. requirements. Many people assume that listing these holdings in a will or trust is enough. In reality, foreign property requires more deliberate planning. Without that preparation, families may face delays, higher taxes, or ... [Read More]

Creating a comprehensive estate plan is an important step in protecting your assets and ensuring your wishes are honored after you pass away. Equally important is having a solid financial plan to manage your income, investments, and long-term financial goals. While these two areas are often handled separately, coordinating your estate plan with your financial plan provides greater clarity, security, and efficiency. Doing so can help you avoid unnecessary taxes, ... [Read More]

Art collections and valuable personal property can represent a significant portion of an individual’s estate. In New York, careful planning is essential to ensure these assets are preserved, properly managed, and passed on according to your wishes. Unlike financial accounts or real estate, art and collectibles often involve unique challenges, such as valuation, insurance, and transfer procedures. Without planning, families may face disputes, unexpected taxes, or the loss of irreplaceable ... [Read More]

Planning for long-term wealth preservation requires careful consideration of both financial and legal strategies. One tool increasingly used by individuals and families in New York is the dynasty trust. Designed to provide control, protection, and continuity for assets across multiple generations, dynasty trusts can help families safeguard wealth from taxes, creditors, and other risks. Understanding their function, benefits, and legal considerations is essential for anyone looking to maintain financial security ... [Read More]

Estate planning involves more than deciding who will inherit your assets. A crucial but often overlooked aspect is managing debts and liabilities. Failing to plan for these obligations can leave your heirs with unexpected financial burdens and reduce the value of what you intend to pass on. For New York residents, understanding how debts are handled after death and incorporating strategies into your estate plan is essential. Understanding Debts and ... [Read More]

Estate planning is often associated with married couples, parents, or business owners. However, individuals who are single also need to think carefully about how their assets, healthcare decisions, and financial matters will be managed. Without a plan in place, New York’s laws will determine what happens to a person’s estate, and the outcome may not reflect their wishes. By creating a clear and legally sound estate plan, single individuals can ... [Read More]

As technology becomes increasingly central to daily life, the concept of digital assets has grown in importance. Emails, social media accounts, digital photos, online banking, and cryptocurrencies are all considered digital assets. Yet many people do not think about including these assets in their estate plans. Without proper planning, these digital properties can be lost or become inaccessible to heirs. In New York, there are legal ways to address digital ... [Read More]

When planning your estate, understanding federal estate taxes is an essential step. These taxes can affect how much of your wealth is passed to your heirs and which planning strategies you may need. While many people will never owe federal estate tax, those with larger estates must be aware of the rules, exemptions, and planning opportunities. Being informed can help you make decisions that protect your assets and ensure your ... [Read More]